Shalimar Paints Q2 Results FY27: Net Loss Widens to Rs 31.99 Cr, Revenue Rs 114.52 Cr

Shalimar Paints Ltd (SHALPAINTS) Q2 Results FY27 announced on 28 October 2026, covering the company's financial performance for the July to September quarter. The standalone results show revenue of Rs 114.52 Cr and a net loss (PAT) of Rs 31.99 Cr, reported on NSE and BSE. The results date of 28 October 2026 anchors every figure in Shalimar Paints Q2 Results FY27.

This results analysis of Shalimar Paints Q2 Results covers the financial highlights, business drivers, outlook and risks for Univest readers, and it begins with the Financial Highlights table that follows.

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Shalimar Paints Q2 Results FY27: Financial Highlights

Metric	Q2 FY27 (Sep 26)	Q2 FY26 (Sep 25)	YoY Change
Revenue	Rs 114.52 Cr	Rs 132.11 Cr	-13.31% YoY
Operating Profit	Rs -22.65 Cr	Rs -6 Cr	-277.5% YoY
Net Profit (PAT)	Rs -31.99 Cr	Rs -13.87 Cr	-130.64% YoY

Source: company filing for Shalimar Paints Q2 Results FY27, 28 October 2026. Figures in Rs Crore, Standalone basis.

Key Takeaways from Shalimar Paints Q2 Results: What Stands Out

• Revenue: Standalone revenue fell to Rs 114.52 Cr from Rs 132.11 Cr, a YoY decline of 13.31% in the July to September quarter.
• Net profit: The net loss widened to Rs 31.99 Cr from Rs 13.87 Cr, a change of 130.64% year on year in Shalimar Paints Q2 Results FY27.
• Operating Profit: Operating Profit stood at Rs -22.65 Cr against Rs -6.00 Cr a year earlier, a YoY change of 277.5%.
• Margin: Net profit margin moved to -27.9% from -10.5% in the comparison quarter, reflecting the larger loss on lower revenue.
• Return metrics: Return on capital employed improved to -12.18% in FY26 from -17.06% in FY25, which the performance analysis below places beside the quarter.

Shalimar Paints Q2 Results FY27: Performance Analysis

Shalimar Paints reported standalone revenue of Rs 114.52 Cr for the July to September quarter, down 13.31% from Rs 132.11 Cr a year earlier, while the net loss stood at Rs 31.99 Cr against Rs 13.87 Cr. Revenue fell and the net loss widened, so the quarterly results show a larger loss than the same quarter last year.

The results analysis shows that a revenue decline of 13.31% came alongside a net loss that grew by 130.64% YoY. Operating Profit moved to Rs -22.65 Cr from Rs -6.00 Cr, and net profit margin moved to -27.9% from -10.5%. In Shalimar Paints Q2 Results, the YoY growth figures are therefore negative on revenue, Operating Profit and net profit.

Readers following Shalimar Paints Q2 Results FY27 can watch the next quarterly results for any change in these YoY figures. The comparison here is YoY, matching the July to September 2026 quarter with the same quarter a year earlier. Univest Screener users can set these standalone results beside other listed companies, which brings the results analysis to the business factors.

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Key Business Factors This Quarter

Return on Capital Employed – Return on capital employed improved to -12.18% in FY26 from -17.06% in FY25. This is the one disclosed factor that moved in a better direction, and it sits beside Shalimar Paints Q2 Results FY27 as context for the quarterly results.

Operating Profit – Operating Profit was Rs -22.65 Cr in the quarter against Rs -6.00 Cr in the same quarter last year. The disclosed figures show the size of the change, though the data does not establish a specific cause.

Revenue Base – Revenue was Rs 114.52 Cr against Rs 132.11 Cr a year earlier, a decline of 13.3% year on year. This lower revenue base is the starting point for the net loss of Rs 31.99 Cr reported in the quarter.

FY27 Outlook After Shalimar Paints Q2 Results

The FY27 outlook after Shalimar Paints Q2 Results rests on the quarters that follow. FY27 full-year results will depend on subsequent quarters and disclosed sector conditions, and each new filing will add to the picture. For now, the Q2 standalone numbers set a base of Rs 114.52 Cr in revenue and a net loss of Rs 31.99 Cr.

In this results analysis, net profit is the line most worth watching, since the net loss of Rs 31.99 Cr compares with Rs 13.87 Cr in the same quarter last year. Alongside Shalimar Paints Q2 Results FY27 sits a return on capital employed of -12.18% in FY26, so the points that matter next are the risks, which the next section covers.

Key Risks to Watch After Shalimar Paints Q2 Results FY27

Revenue Decline

Revenue declined 13.3% year on year to Rs 114.52 Cr in the latest quarter. Readers can track whether later quarterly results show a different pattern of YoY growth for the top line.

Net Loss and Margin

The company reported a net loss of Rs 31.99 Cr in the latest quarter, and net profit margin moved to -27.9% from -10.5% in the comparison quarter. After Shalimar Paints Q2 Results FY27, both figures are worth tracking in later filings.

Low Return on Equity

Return on equity was low at -37.68% in FY26. This return figure is the longer-term reference point against which the quarterly net loss of Rs 31.99 Cr can be read.

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Conclusion

Shalimar Paints Q2 Results FY27 show standalone revenue of Rs 114.52 Cr and a net loss of Rs 31.99 Cr, with revenue down 13.31% and the net loss wider by 130.64% YoY. These quarterly results show lower sales and a larger loss than the same quarter last year, and the standalone results are best read with the FY26 return figures. Readers of Shalimar Paints Q2 Results should consult a SEBI-registered advisor before acting.

Frequently Asked Questions on Shalimar Paints Q2 Results FY27

What are Shalimar Paints Q2 Results FY27?

Ans. Shalimar Paints Q2 Results FY27 are the standalone quarterly results for July to September 2026, with revenue of Rs 114.52 Cr and a net loss of Rs 31.99 Cr, as summarised in the Quick Answer box.

What is the results date for Shalimar Paints Q2 Results FY27?

Ans. The results date for Shalimar Paints Q2 Results FY27 is 28 October 2026, when the standalone numbers were declared, which is also the date used in the opening section of this results analysis.

What revenue was reported in Shalimar Paints Q2 Results FY27?

Ans. Shalimar Paints reported revenue of Rs 114.52 Cr in the quarter, compared with Rs 132.11 Cr a year earlier, as the Financial Highlights table shows for Shalimar Paints Q2 Results FY27.

What net profit was reported in Shalimar Paints Q2 Results FY27?

Ans. Net profit in Shalimar Paints Q2 Results FY27 was a loss of Rs 31.99 Cr, compared with a loss of Rs 13.87 Cr in the same quarter last year, as the Key Takeaways section sets out.

How much YoY growth did revenue show in Shalimar Paints Q2 Results FY27?

Ans. Revenue showed negative YoY growth of 13.31% in Shalimar Paints Q2 Results FY27, falling to Rs 114.52 Cr, while the Performance Analysis section explains how this compares with the wider net loss.

Did net profit rise or fall in Shalimar Paints Q2 Results?

Ans. Net profit fell in Shalimar Paints Q2 Results, with a net loss of Rs 31.99 Cr against Rs 13.87 Cr a year earlier, a change of 130.64% YoY, as the Performance Analysis section describes.

What was the Operating Profit in Shalimar Paints Q2 Results FY27?

Ans. Operating Profit in Shalimar Paints Q2 Results FY27 was Rs -22.65 Cr, compared with Rs -6.00 Cr in the same quarter last year, a YoY change of 277.5%, as the Key Business Factors section shows.

Are Shalimar Paints Q2 Results consolidated results or standalone results?

Ans. Shalimar Paints Q2 Results are standalone results, so every revenue and net profit figure on this page refers to the company alone, as stated in the Quick Answer and Financial Highlights.

What business factors shaped Shalimar Paints Q2 Results FY27?

Ans. Return on capital employed, Operating Profit and the revenue base are the disclosed factors in Shalimar Paints Q2 Results FY27, as the Key Business Factors section explains with the supplied figures.

What are the key risks after Shalimar Paints Q2 Results FY27?

Ans. A revenue decline, a net loss with a lower net profit margin and low return on equity are the risks after Shalimar Paints Q2 Results FY27, which the Key Risks section covers in more detail.

What is the outlook after Shalimar Paints Q2 Results?

Ans. FY27 full-year results will depend on subsequent quarters and disclosed sector conditions after Shalimar Paints Q2 Results, as the Outlook section explains using the latest net loss and revenue figures.

Where can I find the complete Shalimar Paints Q2 Results FY27 data?

Ans. The complete Shalimar Paints Q2 Results FY27 data sits in the Financial Highlights table above, and the Univest Screener lets readers compare these standalone results with other listed companies.